SCHEDULE: Bank of Montreal Boosts TC Energy Stake to 5.75%

Bank of Montreal and its affiliates have reported a beneficial ownership of 5.75% in TC Energy Corp common shares as of December 31, 2025.

Summary

• Bank of Montreal, along with its various subsidiaries and affiliates, collectively holds beneficial ownership of 59,861,812 common shares of TC Energy Corp.
• This aggregate beneficial ownership represents 5.75% of TC Energy Corp's outstanding common shares.
• Bank of Montreal itself holds sole voting power over 57,433,323 shares and shared voting power over 2,246,840 shares.
• Bank of Montreal also holds sole dispositive power over 57,614,972 shares and shared dispositive power over 2,246,840 shares.
• Key reporting entities within the Bank of Montreal group include BANK OF MONTREAL HOLDING INC. (3.87% ownership), BMO NESBITT BURNS INC. WEALTH MANAGEMENT (2.85%), and BMO ASSET MANAGEMENT INC. (1.18%).
• The filing indicates the event date requiring this statement was December 31, 2025.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive signal, indicating a major financial institution's continued or increased confidence in TC Energy Corp through a significant beneficial ownership stake.

Positives

• Significant institutional ownership by a major financial institution like Bank of Montreal can signal confidence in the issuer's long-term stability and prospects.
• A 5.75% stake represents a substantial commitment, potentially indicating a belief in the intrinsic value of TC Energy Corp.

Future Outlook

This filing is an ownership disclosure and does not contain forward-looking statements or guidance from TC Energy Corp.

Industry Context

StockSavvy.ai notes that significant institutional ownership by a major financial institution like Bank of Montreal often signals confidence in the long-term prospects of the issuer within its sector, particularly in the energy infrastructure industry where stability and consistent cash flows are valued.

Stakeholder Impact

• Shareholders may view this significant institutional holding as a positive indicator of confidence from a major financial player, potentially contributing to market stability for TC Energy Corp shares.

Key Dates

Recommendation

Bank of Montreal's substantial beneficial ownership of 5.75% in TC Energy Corp, maintained across various entities, indicates a long-term institutional commitment. This level of ownership suggests a stable investment by a major financial player, which typically supports a "hold" recommendation for investors seeking stability rather than immediate speculative gains.

Keywords

TC Energy, Bank of Montreal, BMO, Schedule 13G, beneficial ownership, common shares, institutional investment, energy infrastructure